Monday, 9 October 2017

Nifty Spot Outlook for 10th Oct

NIFTY


Nifty spot opened at 9988.20 and made a low of 9959.45 , it made a high of 10015.75, before closing at 9988.75 .

Had mentioned that long positions for the day can be taken above 10010 and short positions can be taken below 9950 . Nifty triggered our long trade and completed  just 1 target .  Nifty today broke above 10000 but could not sustain for long as Bank Nifty has not been supporting the current move . As long as Nifty is sustaining above 9940 we can expect a retest of 10000 - 10065 zone and if Bank Nifty also breaks and sustains above 24460 then we can expect higher levels in both. 

Had mentioned in the previous post " Now in the coming session Nifty needs to break and sustain below 9950 to test 9920 - 9915 initially and sustaining below it we can see a test of 9890 - 9865 . Breaking and sustaining above 10010 we can see a bounce till 10035 - 10045 initially and breaking and sustaining above it we can see a test of 10070 10095 . " , and we saw Nifty make a low of 9959.45 and bounce back above 10010 but could not sustain above it either  . Now in the coming session Nifty needs to break and sustain below 9965 to test  9940 - 9930 initially and sustaining below it we can see a test of 9910 - 9885  . Breaking and sustaining above 10015 we can see a bounce till 10040 - 10045 initially and breaking and sustaining above it we can see a test of  10070 - 10090.


Nifty Spot Levels for the day are

Long above 10015 for 10030 - 10045 - 10090 , SL 9980

Short below 9965 for 9950 - 9930 - 9885 , SL 10000

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Disclaimer : These are my personal views and one should do their own research before entering any trades based on them  . The use of the blog is agreement that the blog is for informational and educational purposes only and does not constitute advice in any form in the furtherance of any trade or trading decisions.